Sabine Royalty Trust (NYSE:SBR) Stock Price Crosses Below 200-Day Moving Average – What’s Next?

Shares of Sabine Royalty Trust (NYSE:SBR) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $63.09 and traded as low as $63.04. Sabine Royalty Trust shares last traded at $63.40, with a volume of 33,240 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Sabine Royalty Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th.

Sabine Royalty Trust Stock Performance

The business’s 50 day moving average is $62.62 and its two-hundred day moving average is $63.09.

Sabine Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a $0.3112 dividend. This represents a $3.73 annualized dividend and a dividend yield of 5.89%. The ex-dividend date of this dividend is Monday, December 16th. Sabine Royalty Trust’s dividend payout ratio (DPR) is presently 95.07%.

Institutional Investors Weigh In On Sabine Royalty Trust

Several institutional investors and hedge funds have recently made changes to their positions in SBR. Raymond James & Associates lifted its stake in Sabine Royalty Trust by 2.3% in the second quarter. Raymond James & Associates now owns 26,427 shares of the energy company’s stock valued at $1,710,000 after buying an additional 588 shares during the period. Family Firm Inc. acquired a new position in shares of Sabine Royalty Trust during the 2nd quarter valued at $48,000. TrueMark Investments LLC bought a new position in Sabine Royalty Trust during the second quarter worth $1,107,000. Concurrent Investment Advisors LLC acquired a new stake in Sabine Royalty Trust in the second quarter worth $302,000. Finally, Commonwealth Equity Services LLC increased its stake in Sabine Royalty Trust by 77.1% in the second quarter. Commonwealth Equity Services LLC now owns 38,820 shares of the energy company’s stock valued at $2,511,000 after purchasing an additional 16,902 shares in the last quarter. Institutional investors own 15.81% of the company’s stock.

About Sabine Royalty Trust

Sabine Royalty Trust holds royalty and mineral interests in various producing oil and gas properties in the United States. Its royalty and mineral interests include landowner's royalties, overriding royalty interests, minerals, production payments, and other similar non-participatory interest in certain producing and proved undeveloped oil and gas properties located in Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas.